'jft310' pid='21690' datel Wrote:The price per mcf is not the driver. The deal for future cash flows is what matters.
Jft, I have enormous respect for you and I think your initial post on this thread makes a number of excellent points, but your one point above minimizing the mcf of the deal is misleading. The mcf that IOC gets on the deal is the industry's current evaluation of those future cash flows, etc. Given that so many players have looked so closely and that even now there seems to still be competition means that we should expect this number to be an accurate reflection of value. I think you are right to make the point that the selldown mcf is the the "be all end all" of IOC value, and that more stock appreciation is likely to occur through operation of these projects, but I think it must be acknowledged that the mcf number is very important.